Nice to see the forward thinkingAlthough we didn't get the flow results we wanted, I am happy to see they are putting this into production and i'm assuming we will get another NR regarding financing. This quote was taken from one of the articles i posted yesterday;
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Like, it’s allabout following amethodical, step-by-step process in terms of, first ofall, you’ve got tofigure out [if] you actually have sufficient gas inplace. The nextquestion is, can you actually frac the rock to get the gas to releasefrom there. And the third question is, what are your commercialparameters. Like, what is it costing you to drill a well, how much gas doyou get out of the well … But getting to those stages involves a lot ofscientific work. It’s a very methodical, rigorous process, because you’retalking about hundreds of variables, and if you don’t control for them,you won’t know what caused a good result and what caused a bad result."Now,” he continued, “when we were firstinvolved with Beaver River, we did the complete opposite, because wedidn’t understand how shale [gas] was. So, typical sort of small companymentality, we said, ‘Look, we need to find the best result that will bemost commercial.’ And so we thought we could just jump the whole learningcurve … so we drilled a number of wells together with Transeuro … Andsome wells tested at two and three million [cubic feet] aday. Sometested at four or five million a day. And then we’ve had other wells thattested at less than half a million a day – and other wells that testednothing. Now, because we didn’t do the rig our on the scientific side ofthings, we have no predictive model to say, ‘Okay,here’s why the fourmillion a day well worked. Here’s why the less than a hundred thousand aday well didn’t work.’”
“We’vehad one well that’s been producing there for the last four or fiveyears,” he added. “We can’tquite figure why that well does as well as itdoes.”
It's nice to see that TSU has followed a very "scientific" approach to this well and they now understand exactly what is required to extract the oil from this field. I think this is very exciting :o)